Global IT solutions provider Wipro is acquiring a key vertical market technology consulting firm. The acquired business, known as IVIA Serviços de Informática Ltda, is based in Brazil. The deal is expected to close by the end of September 2020. Financial terms of the deal were not disclosed.
This is M&A deal 286 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
IVIA Serviços supports such vertical markets as financial services, transportation, retail, healthcare, consumer goods and manufacturing. The acquisition will also help Wipro set up delivery centers in the North East of Brazil leveraging IVIA’s workforce, the buyer says.
Wipro has offices in five Latin America countries -- including Brazil, Mexico, Chile, Colombia and Costa Rica.
Wipro Acquires IVIA: Executive Perspectives
In a prepared statement, Mukund Seetharaman, VP and head of LATAM, Wipro, said:
“We welcome employees of IVIA to the Wipro family. They bring with them unique strengths and experience that will be of immense benefit to Wipro. We continue to make strategic investments in this region and this acquisition will help Wipro address the needs of clients across multiple verticals. Wipro’s digital capabilities combined with IVIA’s strengths will maximize benefits for clients."
Added Alexandre Menezes, founder and chief marketing officer, IVIA Serviços de Informática Ltda:
“We are excited about what Wipro and IVIA can deliver jointly to clients, transform communities and leverage information technology to empower people. Wipro’s fast-growing presence in the region, digital transformation capabilities, its global customer portfolio and delivery model will help our talent and customers immensely.”
Wipro: IT Consulting Business Evolution
Like many India-based IT consulting firms, Wipro has been evolving and expanding to support cloud, cybersecurity and managed services opportunities. Moreover, Wipro has emerged as a Top 10 ServiceNow partner for IT service management (ITSM) solutions.
While some IT consulting firms have had layoffs amid the coronavirus pandemic, Wipro has no plans for layoffs.